For investors seeking momentum, Invesco Russell Top 200 Pure Growth ETF is probably on radar now. The fund just hit a 52-week high, which is up roughly 29.8% from its 52-week low price of $40.69/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
PXLG in Focus
The fund is composed of securities with strong growth characteristics selected from the Russell Top 200 Index. Information Technology (36.74%) and Consumer Discretionary (25.57%) are the top sectors of the fund. PXLG charges investors 39 basis points a year in fees and has top holdings salesforce.com, Vertex Pharmaceuticals and Netflix (see all Large Cap ETFs here).
Why the Move?
Large-cap growth ETFs have rebounded lately. No matter how U.S.-China trade progresses, we believe tensions are almost priced-in at the current level. Investors shifted focus to upbeat U.S. economic data points from the trade war.
FactSet predicts that the second quarter should see earnings growth of more than 20%. If it happens, second-quarter earnings will be on its way to set a record after 2010. All these have brightened the appeal for large-cap growth ETFs like PXLG.
More Gains Ahead?
The fund has a positive weighted alpha of 29.60. Also, the fund has a Zacks ETF Rank #2 (Buy). So, there is definitely still some promise for those who want to ride on this surging ETF a little longer.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
For investors seeking momentum, Invesco Russell Top 200 Pure Growth ETF is probably on radar now. The fund just hit a 52-week high, which is up roughly 29.8% from its 52-week low price of $40.69/share.
But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea on where it might be headed:
PXLG in Focus
The fund is composed of securities with strong growth characteristics selected from the Russell Top 200 Index. Information Technology (36.74%) and Consumer Discretionary (25.57%) are the top sectors of the fund. PXLG charges investors 39 basis points a year in fees and has top holdings salesforce.com, Vertex Pharmaceuticals and Netflix (see all Large Cap ETFs here).
Why the Move?
Large-cap growth ETFs have rebounded lately. No matter how U.S.-China trade progresses, we believe tensions are almost priced-in at the current level. Investors shifted focus to upbeat U.S. economic data points from the trade war.
FactSet predicts that the second quarter should see earnings growth of more than 20%. If it happens, second-quarter earnings will be on its way to set a record after 2010. All these have brightened the appeal for large-cap growth ETFs like PXLG.
More Gains Ahead?
The fund has a positive weighted alpha of 29.60. Also, the fund has a Zacks ETF Rank #2 (Buy). So, there is definitely still some promise for those who want to ride on this surging ETF a little longer.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>